EU Unveils Plans For Russian Oil Embargo In Latest Wave Of Sanctions For Invading Ukraine

EU Unveils Plans For Russian Oil Embargo In Latest Wave Of Sanctions For Invading Ukraine

Share to Linkedin The European Union is poised to ban Russian oil imports as part of a new wave of possible sanctions, European Commission president Ursula von der Leyen announced on Wednesday, marking the bloc's boldest proposals yet as it boosts efforts to hold Moscow accountable for invading Ukraine. Europe will ban Russian oil imports under new proposals. The EU will phase out Russian crude oil imports over the next six months, von der Leyen told the European Parliament in a speech outlining proposals for a sixth wave of sanctions against Moscow. Von der Leyen, who heads the EU's executive branch, said ending the bloc's "dependency on Russian oil… will not be easy" and must be done in an "orderly fashion" to minimize global disruption while maximizing pressure on Russia. The package also contained proposals to disconnect three major Russian banks—including the country's largest, Sberbank—from the SWIFT international financial system and bar three state-owned Russian broadcasters from the region, which von der Leyen said amplify "Putin's lies and propaganda aggressively". The proposals also include targeted measures against high-ranking military officers who have committed war crimes in Ukraine, von der Leyen said. "We know who you are… and you will be